Former S&l Chief Convicted Of Fraud

June 29, 1990

NORTH CHICAGO — The former president of North Chicago Savings & Loan Association pleaded guilty in federal court Thursday to charges of defrauding the institution of more than $1 million by making loans to himself and a friend without the approval of the board of directors.

Arthur Kick, 63, of Libertyville, faces a maximum sentence of 10 years in prison and a $500,000 fine when he is sentenced Aug. 17. The institution merged into the Kenosha Savings & Loan Association in 1988.

Kick, who resigned as president in 1987, was charged with making more than $280,000 in loans to himself and more than $938,000 in loans to a friend.

Assistant U.S. Atty. Scott Mendeloff said in court Thursday that in 1987, after Kick realized that federal auditors would uncover the irregularities, he repaid his own loans with money drawn from the friend`s account.